1795 Willingdon

June 30, 2022 / by Matthew Yung / / 0 Comments

1795 Willingdon is an exceptionally well-located office property with significant redevelopment potential, just steps from The Amazing Brentwood and Brentwood Town Centre SkyTrain station in Burnaby, B.C. Located on a 2.58-acre site, 1795 Willingdon comprises three storeys of premier office space with over 160,000 sq. ft. of NRA. The property is currently 100% leased to Provincial Health Services Authority (PHSA) and provides a value-add opportunity for income enhancement through leveraging market rental rates. In addition, the property has the potential to benefit from significant future long-term redevelopment with Brentwood’s OCP amendment, which targets up to 14.3x FSR (1.6 million sq. ft.) of mixed-use development.

Due to the strength and future development potential of this asset, CBRE successfully transacted this property to Concert’s CREC Commercial Fund LP.

510 Seymour Street

June 30, 2022 / by Matthew Yung / / 0 Comments

510 Seymour is a 10-storey, Class “A” boutique office building with retail at-grade, located at the prominent intersection of Seymour Street and West Pender Street in the Central Business District of Downtown Vancouver. This newly built building comprises 72,324 sq. ft. of net rentable area and features bright and spacious tenant suites with excellent tenant amenities. The property presented investors a value-add opportunity for income enhancement through increasing current rental rates to meet market rental rates, as the property’s blended in-place average rental rate is significantly below market. Offering income growth potential and a strong and stable tenancy profile, 510 Seymour Street provides the purchaser with a unique and irreplaceable long-term investment property.

Through a full-scale global marketing campaign, CBRE was able to successfully transact the asset to European Capital represented by a Canadian multi-sector real estate investment manager.

3600 Lysander Lane

April 7, 2022 / by Matthew Yung / / 0 Comments

3600 Lysander Lane is a strategically located, Class “A” office building located on Sea Island in Richmond, B.C. Offering 113,000 square feet of rentable area on a 5-acre site, the property has been exceptionally maintained and managed with recent renovations resulting in modern campus-style interior finishes and high-quality tenant amenities. CBRE identified a value-add opportunity for income enhancement, and when combined with the property’s exceptional stable tenant roster, the property was positioned in the market as a unique opportunity to capitalize on the strength of Metro Vancouver’s suburban office market.

CBRE ultimately transacted this property to a foreign buyer.

The Dominion Building

December 8, 2021 / by Matthew Yung / / 0 Comments

The Dominion Building is a landmark heritage office building comprising nearly 85,000 sq. ft. of office and retail space, located just steps from Waterfront Station and the Central Business District in Downtown Vancouver. The property was positioned as an extremely rare historic and iconic investment opportunity with the potential to implement a value-add or repositioning program. The Dominion Building’s proximity to a hub of new developments which have drawn notable tech tenants into the Vancouver market also enhanced the appeal of the offering.

Through a full-scale global marketing strategy, CBRE-NIT collaborated with Marcus & Millichap to successfully transact the asset to a well-known real estate investment trust company.

1077 Great Northern Way

July 7, 2021 / by Matthew Yung / / 0 Comments

1077 Great Northern Way is an award-winning LEED platinum Class ‘AAA’ office building offering over 112,300 sq. ft. of office space in the False Creek neighborhood in Vancouver, B.C. Designed in 2014, the building features wood-beam details, large open spaces, an abundance of natural light, excellent views of the North Shore Mountains, and unbeatable amenities.

CBRE successfully transacted this asset to a private real estate company specializing in investment, development, and management.